Recent Industry Headlines
Friday, February 23rd, 2007
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Anti-money laundering compliance is becoming a mini-Sarbanes-Oxley in the number of cost-related headaches it’s giving bank execs — especially where international wire transfers are concerned. But consultants warn that non-compliance could be even more costly. |
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• Sarbox Reform and the Legal Economy |
Sarbanes-Oxley spending seen at $6 billion in 2007 - Corporate spending to comply with Sarbanes-Oxley accounting legislation is likely to hold steady at $6 billion in 2007 as smaller companies are required to comply with some sections of the law for the first time, a survey from AMR Research showed on Thursday.
Fraud Detection: The New 404? - The PCAOB slams auditors for poor fraud detection. Corporations can expect steep audit fees to follow.
As regulation crimps U.S. IPO business, anxiety is rising - In this era of superlatives on Wall Street - record profit, record pay, record mergers - a chorus of alarm is rising over a tectonic shift within the global securities industry.
PCAOB’s Niemeier: No Sarbox Rollback - "If we start tweaking are we putting at risk the one thing that gives us a true competitive advantage in the world?"
When Budgets Loom, It’s Time to Rent a C.F.O. - Nonprofits and private and public businesses of all sizes are turning to temporary finance chiefs as they struggle to meet new regulatory guidelines.
Reform Effort Rebuked - Despite professions of independence, the Committee on Capital Markets Regulation has been accused of being sympathetic to the Bush Administration.
Emails Reveal Backdating Scheme - As part of a years-long scheme to backdate stock options at Mercury Interactive Corp., former executives allegedly altered documents, repeatedly changed the dates of some option grants, and sent each other emails discussing the improper practice, according to a court document that has been at the center of a battle over confidentiality in the case.
Business Council fights ‘impractical’ reporting push - Australia’s top businesses have come out against proposed rules that would force companies to come clean on their sustainability and corporate responsibility efforts.
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